Barrick and Newmont settle NGM dispute, agree on $1.95B payment

Barrick Mining Corporation (NYSE: B) and Newmont Corporation (NYSE: NEM) have reached an agreement to contribute previously excluded properties into their Nevada Gold Mines (NGM) joint venture, resolving all outstanding disputes between the two companies related to the venture.

Under the terms of the agreement, Barrick's Fourmile development and Newmont's Fiberline and Mike developments will be added to the NGM joint venture. Newmont will pay Barrick $1.95 billion to reflect the contribution of these excluded properties.

The agreement also includes updated governance provisions under a modernized joint venture agreement.

As part of the resolution, Newmont has granted consent to Barrick's proposed initial public offering of its North American gold assets, which had been contingent on settling the disputes.

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